Publications

On the plenary session of the State Great Khural (the Parliament) dated October 7, 2021, the draft law on amending the Investment Law submitted by MP Kh.Gankhuyag was discussed and 51.9 percent of the members who participated at the plenary session voted in favor and transferred to the Standing Committee on Economic Affairs to prepare for the first discussion.

According to the October statistics of the State Registration Office of Mongolia, total of 67 legal entities were liquidated in October 2021.

Intellectual property (IP) is one of the most valuable assets of any firm. However, in a world of widespread piracy and strong trends in the illegal use of intellectual property, the registration and protection of intellectual property is of strategic importance to reduce unfair competition.

Mongolia is a member of the World Intellectual Property Organization and has acceded to major treaties and conventions related to intellectual property. Also signed and ratified the World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).

The Law on Prevention and Combating the of Coronavirus Infection (Covid-19) and Mitigation of its Social and Economic Impacts was approved on April 29, 2020 and shall be effective until December 31, 2021.

The experience of different states, given in the brochure, will demonstrate the existence of not one, but several ways to overcome the slowness and inefficiency of execution in practice, and also that the possible solutions to the problem are varied, but they all ultimately are based on a delicate balance, along with other things, of the norms of executive the law and practice of their application, a high level of training and responsibility of various professionals involved in the implementation process, as well as the institutional and social systems in which these professionals are forced to carry out their activities.

Mongolia is a country with a rich mineral resources, which is a attractive environment for foreign direct investment, and the Government of Mongolia is dedicated to attract more foreign investment and use all of its mineral resources. As shown in the diagram, 70 percent of foreign investment is in the mining sector, and the remaining 30 percent is in trade, food, banking and financial service, and other sectors.

On December 31, 2020, the plenary session of the State Great Khural (the Parliament) adopted new amendments to the Law on the Legal Status of Foreign Citizens, and these amendments entered into legal force on June 1, 2021.

According to the amendment to Recommendation 15 of the International standards on Combating money laundering and financing of terrorism & proliferation (FATF 40 recommendations), dated October 2018, the terms “virtual asset” and “virtual asset service providers” have been added to the general glossary of FATF recommendations and the “virtual asset” has become subject to anti-money laundering and counter-terrorist financing system of countries.